Sulfur is used in many types of stainless steels to provide improved machinability. However, significant amounts of sulfur have typically not been used to enhance the machinability of high-strength, precipitation-hardenable stainless steels because such levels of sulfur adversely affect the processability of such steels and their ductility in the age-hardened condition. Here and throughout this application the term "processability" refers to the capability of a steel to be hot worked and/or cold worked to a desired cross-sectional dimension without sustaining significant damage (i.e., cracking, tearing, etc.). A need has arisen for a high-strength, precipitation-hardenable stainless steel that provides better machinability than the known grades of such steels, but which also provides sufficient processability to permit it to be formed into small diameter wire. It is also desired that the steel provide a combination of strength and ductility that is at least comparable to the known grades of high-strength, precipitation hardenable, stainless steels.